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About the book

Description

Many marine fish resources are overexploited and the total world production of wild caught fish has declined a little since the peak in the mid-1990s. This book analyses the economic and biological forces and consequences of fish exploitation where there is open access to the resource. What’s more, effective methods to mitigate economic and biological declines, as well as ecosystem effects, are rigorously analysed, but without going beyond the mathematical level of most high school graduates. The analytic models include the basic elements of fish population dynamics and fishing vessel behaviour, with focus on effective management instruments to create economic surplus and welfare without jeopardising ecosystem health. This includes resource taxes, fish quotas, gear and vessel restrictions and marine protected areas. This book should be of value to both undergraduate and graduate students in economics as well as across inter- and multi-disciplinary fisheries programs.

Preface

This book is the result of many years’ experience of teaching fisheries economics and management, also called bioeconomics, for undergraduate and graduate students in interdisciplinary programs, both in Norway and abroad. These students often have a limited background in economics and mathematics and the challenge has been to be analytical without being unnecessary mathematical. I have found that with the exercises at the end of some of the chapters students are quite capable looking at fisheries economics and management from an analytic perspective. Exercises and careful reading of the logical steps of the text is the key to understanding fisheries economics.

Content

Introduction

Population dynamics and fishing

Growth of fish stocks

Effort and production

Yield and stock effects of fishing

A basic bioeconomic model

Open access bioeconomic equilibrium

Maximising resource rent

Effort and harvest taxes

Fishing licences and quotas

Investment analysis

Discounting

Fish stocks as capital

Long-run optimal stock levels

Transition to long-run optimum

Adjusted transition paths

The Gordon-Schaefer model

The logistic growth model

The open-access fishery

Economic optimal harvesting

Discounting effects

Fishing vessel economics

Optimal vessel effort

Vessel behaviour in the long run

Quota price and optimal effort

A small-scale fisher’s choice of leisure time and income

Extension of the basic bioeconomic model

Intra-marginal rent for the most efficient vessels

Marine reserves

Growth and yield of year classes

Growth and ageing

Sustainable yield and economic surplus

Multispecies and ecosystem harvesting

Multispecies and ecosystem management

More on predator-prey modelling

Recreational fishing

Recreational angling

Short-run analysis

Long-run analysis

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